Crop Insurance Deadline Nears in New York

RALEIGH, N.C., Jan. 14, 2016 - USDA’s Risk Management Agency (RMA) reminds New York onion producers the final date to apply for crop insurance coverage is February 1. Current policyholders who wish to make changes to their existing coverage also have until the February 1 sales closing date to do so.

Crop insurance provides protection against a loss in onion production due to natural perils, such as drought or excessive moisture. Coverage is available for onions in Cayuga, Genesee, Madison, Oneida, Ontario, Orange, Orleans, Oswego, Seneca, Steuben, Wayne, and Yates counties. Onions may be insurable in other New York counties if specific criteria are met. The price election is the season average price RMA expects growers to receive for their crop in the upcoming insurance year. The price election is used to establish the overall liability of the policy. It also affects the premium paid, and is used to evaluate any indemnities. The 2016 price election in New York is $24.80 per hundredweight for red onions, $14.80 per hundredweight for white onions, and $11.90 per hundredweight for yellow onions.

Onion growers’ coverage amounts are determined from their actual yields and the protection level they choose. Onion growers are encouraged to consider making crop insurance an essential part of their overall risk management plan to help protect their operations from financial loss.

Onion growers are encouraged to visit their crop insurance agent soon to learn specific details for the 2016 crop year. Crop insurance is sold and delivered solely through private crop insurance agents. A list of crop insurance agents is available at all USDA Service Centers and online at the RMA Agent Locator. Onion growers can use the RMA Cost Estimator to get a premium amount estimate of their insurance needs online. Learn more about crop insurance and the modern farm safety net at the RMA website.